Nickel Market Size, Share, and Outlook, 2025 Report- By Application (Stainless-steel, Non-ferrous Alloys, Plating, Batteries, Others), 2018-2032

Nickel Market Outlook

Nickel Market Size is forecast to reach $64 Billion in 2032 from $43.2 Billion in 2025, at an optimistic growth rate of 5.7% from 2025 to 2032. The robust Nickel Market growth presents potential growth opportunities for companies across the industry value chain.

The comprehensive market research report presents 12-year historic and forecast data on Nickel Market segments across 22 countries from 2021 to 2032. Key segments in the report include By Application (Stainless-steel, Non-ferrous Alloys, Plating, Batteries, Others). Over 70 tables and charts showcase findings from our latest survey report on Nickel Markets.

Nickel Market Insights, 2025: Nickel – Key Drivers and Opportunities

Nickel is a critical metal used in a variety of industrial applications, with its most significant demand stemming from the production of stainless steel, which accounts for around two-thirds of global nickel consumption. The increasing need for stainless steel in infrastructure, automotive, and construction sectors drives the demand for nickel. Additionally, the growing demand for electric vehicles (EVs) is contributing to increased nickel consumption, as nickel is an essential component of the batteries used in electric vehicles. Furthermore, the trend toward renewable energy technologies, such as wind turbines and energy storage systems, also fuels the demand for nickel-based materials.

The opportunities for nickel are closely tied to the ongoing energy transition and technological advancements. As the shift towards cleaner energy and transportation technologies accelerates, the demand for high-performance batteries and energy storage solutions will continue to rise, driving the need for high-purity nickel. Additionally, as the world seeks to reduce emissions, the need for durable, corrosion-resistant materials like stainless steel in infrastructure projects, including bridges and buildings, presents a significant market opportunity. Furthermore, innovations in nickel recycling technologies could provide new opportunities to address supply challenges and reduce environmental impacts associated with nickel extraction.

Five Trends that will define global Nickel Market in 2025 and Beyond

A closer look at the multi-million global market for Nickel Market identifies rapidly shifting consumer preferences across categories. By focusing on growth and resilience, leading Nickel Companies are prioritizing their investments across categories, markets, and geographies. The report analyses the most important market trends shaping the new landscape to support better decisions for the long and short-term future.

What are the biggest opportunities for growth in the Nickel Industry?

The Nickel Market sector demonstrated remarkable resilience over the past year across developed and developing economies. Further, the market presents significant opportunities to leverage the existing momentum towards actions by 2032. On the other hand, recent macroeconomic developments including rising inflation and supply chain disruptions are putting pressure on companies. The chapter assists users to identify growth avenues and address business challenges to make informed commercial decisions with unique insights, data forecasts, and in-depth market analyses.

Nickel Market Segment Insights

The Nickel Industry presents strong offers across categories. The analytical report offers forecasts of Nickel Industry performance across segments and countries. Key segments in the industry include- By Application (Stainless-steel, Non-ferrous Alloys, Plating, Batteries, Others). The largest types, applications, and sales channels, fastest growing segments, and the key factors driving each of the categories are included in the report.

Forecasts of each segment across five regions are provided from 2021 through 2032 for Asia Pacific, North America, Europe, South America, Middle East, and African regions. In addition, Nickel Market size outlook is provided for 22 countries across these regions.

Nickel Industry Value Chain

The chapter identifies potential companies and their operations across the global Nickel Industry ecosystem. It assists decision-makers in evaluating global Nickel Market fundamentals, market dynamics, and disruptive trends across the value chain segments.

Scenario Analysis and Forecasts

Strategic decision-making in the Nickel Industry is multi-faceted with the increased need for planning across scenarios. The report provides forecasts across three case scenarios- low growth, reference case, and high growth cases.

Asia Pacific Nickel Market Analysis- A Promising Growth Arena for Business Expansion

As companies increasingly expand across promising Asia Pacific markets with a combined population of over 4.5 billion, the medium-to-long-term future remains robust. The presence of the fastest-growing economies such as China, India, Thailand, Indonesia, and Vietnam coupled with strengthening middle-class populations and rising disposable incomes drive the market. In particular, China and India are witnessing rapid shifts in consumer purchasing behavior. China is recovering steadily with optimistic forecasts for 2025. Further, Japanese and South Korean markets remain stable with most companies focusing on new product launches and diversification of sales channels.

The State of Europe Nickel Industry 2025- Focus on Accelerating Competitiveness

As companies opt for an integrated agenda for competitiveness, the year 2025 presents optimistic scenarios for companies across the ecosystem. With signs of economic recovery across markets, companies are increasing their investments. Europe is one of the largest markets for Nickel Market with demand from both Western Europe and Eastern European regions increasing over the medium to long-term future. Increasing omnichannel shopping amidst robust consumer demand for value purchases shapes the market outlook. The report analyses the key Nickel Market drivers and opportunities across Germany, France, the United Kingdom, Spain, Italy, Russia, and other Europe.

The US Nickel Market Insights- Executives are most excited about opportunities for the US Nickel Industry.

Easing inflation coupled with strengthening consumer sentiment is encouraging aggressive actions from the US Nickel Companies. Market players consistently focusing on innovation and pursuing new ways to create value are set to excel in 2025. In addition, the Canadian and Mexican markets offer lucrative growth pockets for manufacturers and vendors. Focus on private-brand offerings and promotions, diversified sales channels, expansion into niche segments, adoption of advanced technologies, and sustainability are widely observed across the North American Nickel Market.

Latin American Nickel Market outlook rebounds in line with economic growth.

Underlying demand remains higher among urban consumers with an optimistic economic outlook across Brazil, Argentina, Chile, and other South and Central American countries. Increased consumer spending has been reported since H2-2024 and the prospects remain strong for 2025. Aggressive ecosystem moves to create new sources of income are widely observed across markets in the region. Marketing activities focused on customer insights, operations, and support functions are quickly gaining business growth in the region.

Middle East and Africa Nickel Markets- New Opportunities for Companies Harnessing Diversity

Rapid growth in burgeoning urban locations coupled with a young and fast-growing population base is attracting new investments in the Middle East and African Nickel Markets. Designing expansion and marketing strategies to cater to the local consumer base supports the market prospects. In addition to Nigeria, Algeria, South Africa, and other markets, steady growth markets in Ethiopia, Rwanda, Ghana, Tanzania, the Democratic Republic of Congo, and others present significant prospects for companies. On the other hand, Middle Eastern Nickel Markets including the UAE, Saudi Arabia, Qatar, and Oman continue to offer lucrative pockets of growth.

Competitive Landscape- How Nickel Companies outcompete in 2025 and Beyond?

The ability to respond quickly to evolving consumer preferences and adapt businesses to niche consumer segments remains a key growth factor. The report identifies the leading companies in the industry and provides their revenue for 2024. The market shares of each company are also included in the report. Further, business profiles, SWOT analysis, and financial analysis of each company are provided in detail. Key companies analyzed in the report include Anglo American plc, BHP Group, China Metallurgical Group Corp, Eramet SA, Glencore plc, IGO Ltd, Norilsk Nickel, Rio Tinto Group, South32 Ltd, Vale S.A.

Nickel Market Scope and Segmentation

By Application

Stainless-steel

Non-ferrous Alloys

Plating

Batteries

Others

Countries Included-

North America- US, Canada, Mexico

Europe- Germany, France, UK, Spain, Italy, Benelux, Turkey, Russia, Rest of Europe

Asia Pacific- China, India, Japan, South Korea, South East Asia, Australia, Rest of APAC

South and Central America- Brazil, Argentina, Chile, Rest of SCA

Middle East and Africa- Saudi Arabia, the UAE, Israel, South Africa, Algeria, Nigeria, Rest of Middle East, Rest of Africa

Companies Included in the Nickel Market Research-

Anglo American plc

BHP Group

China Metallurgical Group Corp

Eramet SA

Glencore plc

IGO Ltd

Norilsk Nickel

Rio Tinto Group

South32 Ltd

Vale S.A.

Reasons to Buy the report

• Make informed decisions through long and short-term forecasts across 22 countries and segments.
• Evaluate market fundamentals, dynamics, and disrupting trends set to shape 2025 and beyond.
• Gain a clear understanding of the competitive landscape, with product portfolio and growth strategies.
• Get an integrated understanding of the entire market ecosystem and companies.
• Stay ahead of the competition through plans for growth in a changing environment for your geographic expansion.
• Assess the impact of advanced technologies and identify growth opportunities based on actionable data and insights.
• Get free Excel spreadsheet and PPT versions along with the report PDF.